The Australian Dream died

Almost everything that could go wrong with housing in Australia has gone wrong

Average property now costs about nine times an ordinary household's income, triple what it was 25 years ago

Sydney s the second least affordable city on Earth to buy a property, trailing only Hong Kong, 

The average price of a home in Sydney is over $678,000 - typ 7 millar, som en hygglig lägenhet i Vasastan.

It's not doom and gloom for everyone though.

That's difficult to stomach, Ms Hickman says, especially given how many households - one in three - now own a property other than the one they live in.

As a result, millions of people are trapped in the rental market, seeking to create a watered-down version of the Australian Dream as tenants. But that's no paradise either.

And all of this is happening at a time when natural disasters and climate effects are wiping out swathes of housing stock, making even more parts of the vast Australian continent effectively unliveable.

"Friends who have parents who are in property have this kind of morbid knowledge that when their parents die, they might be ok," Ms Van Ree says. "I hate that it's my reality."

It was these tax breaks that forever changed the way Australia thinks about housing.

BBC 28 December 2023

https://www.bbc.com/news/world-australia-67723760

Overheated markets, Australia, Canada and Sweden, facing some of the sharpest drops in house prices The Economist

https://englundmacro.blogspot.com/2023/02/overheated-markets-australia-canada-and.html